Here’s why these 4 ASX shares surged higher today

Whilst it hasn’t been the best of days for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO), in afternoon trade it has retraced a good portion of its earlier declines and is currently down just 0.2% to 5,469 points.

Four shares which have been going against the grain today and climbing higher are as follows:

Bradken Limited (ASX: BKN) shares have rocketed higher by 32% to $3.20. Today’s gains come after Hitachi Construction Machinery Co. announced that it had entered into a takeover bid implementation agreement with Bradken. The offer of $3.25 cash per share for all Bradken shares has been unanimously recommended by the Bradken board, in the absence of a superior proposal.

Galaxy Resources Limited (ASX: GXY) shares have jumped 12.5% to 35 cents after the lithium producer provided an update on its Mt Cattlin Project in Ravensthorpe, Western Australia. According to the release the accelerated construction strategy adopted by its project manager Primero Group has been a big success. Significant progress has been made and certain milestones have been achieved ahead of the planned completion schedule. It won’t be long now before the 70,000 tonnes of crushed ore it has stockpiled will be able to be commissioned.

Henderson Group plc (ASX: HGG) shares have surged 11.6% to $4.44 after the fund manager announced that it had reached an agreement with US-based Janus Capital to merge. If the US$6 billion merger completes management believes it will create a truly global asset manager with a diverse geographic footprint. Combined total assets under management are expected to exceed US$320 billion, with earnings before interest, tax, depreciation and amortisation of over US$700 million.

OceanaGold Corporation (ASX: OGC) has jumped 5.3% to $4.22 after the gold producer provided an update on its Didipio mine in The Philippines. The mine was one of many which was threatened with closure recently by the Duterte government. Management advised today that it is confident that it will continue to operate without interruption. It believes the mine “sets the benchmark for responsible mining based on international best practices and serves as the template for the type of operation that President Duterte and his administration are seeking.”

If you missed out on gains today don't worry. These rapidly growing shares could be next in line to bolt higher if you ask me.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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